Anyone knows that insurance companies don’t want policyholders to compare prices from other companies. Consumers who compare other prices are highly likely to move their business because of the high probability of finding a lower rate. A survey found that drivers who regularly compared rates saved as much as $860 a year compared to drivers who never compared rates.
If finding the most affordable insurance is your ultimate goal, then having a grasp of how to shop and compare insurance can make it easier for you to save money.
To save the most money, the best way to get budget auto insurance rates in Anchorage is to do an annual price comparison from insurers in Alaska.
- Try to comprehend how car insurance works and the measures you can take to drop your rates. Many things that result in higher prices such as traffic violations, accidents, and poor credit rating can be eliminated by improving your driving habits or financial responsibility.
- Request rate estimates from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only give prices from a single company like GEICO or Allstate, while independent agents can provide rate quotes for many different companies. Click to view companies
- Compare the price quotes to the premium of your current policy to see if switching to a new carrier will save money. If you find a better price and decide to switch, make sure coverage is continuous and does not lapse.
- Give notification to your current company of your intent to cancel your current auto insurance policy and submit a completed application and payment to your new company or agent. Be sure to keep your new certificate verifying proof of insurance in an accessible location in your vehicle.
The key thing to know about shopping around is that you’ll want to compare the same physical damage deductibles and liability limits on each quote and to quote with as many companies as possible. Doing this enables a fair rate comparison and a good representation of prices.
Best companies for low-cost Lexus IS 200t insurance in Alaska
The providers in the list below are our best choices to provide quotes in Anchorage, AK. To buy the best car insurance in Anchorage, it’s a good idea that you compare several of them to find the most affordable car insurance rates.
Anchorage auto insurance discounts
Some providers don’t always publicize every discount available very clearly, so below is a list some of the best known as well as the least known discounts you could be receiving when you buy Anchorage auto insurance online.
- Defensive Driver Discounts – Participating in a driver safety course is a good idea and can lower rates if you qualify.
- Low Miles Discount – Keeping the miles down on your Lexus could earn slightly better auto insurance rates than normal.
- Pay Now and Pay Less – If you can afford to pay the entire bill rather than paying monthly you could save 5% or more.
- ABS and Traction Control Discounts – Anti-lock brake equipped vehicles have fewer accidents and earn discounts up to 10%.
- Senior Citizen Rates – Seniors may qualify for a small decrease in premiums.
- Multi-line Discount – Auto insurance companies who offer life insurance give a small discount if you purchase some life insurance too.
- Seat Belts Save – Drivers who require all occupants to buckle their seat belts can save up to 15% on the medical payments or PIP coverage costs.
- Passive Restraints and Air Bags – Vehicles equipped with air bags or motorized seat belts may earn rate discounts of 20% or more.
- E-sign – A few larger companies will discount your bill up to fifty bucks for buying your policy on the internet.
- Government Employees – Having worked for a branch of the government may reduce rates when you quote Anchorage auto insurance but check with your company.
Drivers should understand that some of the credits will not apply to the overall cost of the policy. Most only reduce specific coverage prices like collision or personal injury protection. So when the math indicates all those discounts means the company will pay you, it doesn’t quite work that way. Any amount of discount will reduce the premium cost.
A list of auto insurance companies and a selection of discounts are included below.
- Progressive may include discounts for continuous coverage, online quote discount, online signing, multi-vehicle, multi-policy, and homeowner.
- MetLife includes discounts for claim-free, defensive driver, good driver, accident-free, multi-policy, and good student.
- Mercury Insurance may offer discounts for type of vehicle, multi-car, age of vehicle, good driver, annual mileage, and ease of repair.
- Nationwide discounts include anti-theft, multi-policy, easy pay, accident-free, good student, and defensive driving.
- GEICO may have discounts that include daytime running lights, good student, multi-vehicle, anti-lock brakes, and multi-policy.
- AAA policyholders can earn discounts including good driver, education and occupation, good student, anti-theft, AAA membership discount, multi-car, and multi-policy.
Before you buy a policy, ask every company how you can save money. Savings might not be offered in every state. If you would like to choose from a list of insurers with significant discounts in Anchorage, click here.
Choices You Make Can Impact Your Insurance Premiums
Smart consumers have a good feel for the different types of things that play a part in calculating insurance rates. When consumers understand what impacts premium levels, this allows you to make good choices that can help you get better insurance rates. Many different elements are part of the calculation when pricing auto insurance. Some are obvious such as your driving record, although some other factors are more obscure such as whether you are married or how financially stable you are.
The list below includes just a few of the factors companies use to determine your rate level.
- Higher deductibles save money – Physical damage deductibles are how much you are required to spend before your insurance pays a claim. Insurance for physical damage to your car, commonly called comprehensive (or other-than-collision) and collision coverage, protects your car from damage. Some instances where coverage would apply would be colliding with a stationary object, vandalism, and damage from wind. The more money you are required to pay out-of-pocket, the less money you will pay for insurance.
- Age of drivers – Older, more experienced drivers have been proven to be more responsible, tend to file fewer claims, and are safer drivers. Teen drivers tend to get distracted easily when driving with friends so insurance rates are higher.
- Responsible drivers pay lower costs – Your driving record has a lot to do with how much you pay for insurance. Careful drivers get better rates compared to drivers with tickets. Even one moving violation can increase the cost of insurance forty percent or more. Drivers who get flagrant citations like reckless driving, hit and run or driving under the influence may face state-mandated requirements to submit a SR-22 form with their state’s department of motor vehicles in order to drive a vehicle legally.
- Save money by eliminating add-on coverages – Insurance companies have many extra bells and whistles that you can buy if you aren’t careful. Things like vanishing deductibles, towing, and motor club memberships may not be needed and are just wasting money. These coverages may sound good when discussing your needs, but if you’ve never needed them in the past remove them and pocket the money.
- Credit history impacts costs – Credit score is likely to be a major factor in your rate calculation. If your credit history could use some work, you may save money insuring your Lexus IS 200t by spending a little time repairing your credit. People that have good credit tend to be less risk to insure than drivers with poor credit.
- Do you have enough liability protection? – The liability section of your policy is the coverage that protects you if ever a court rules you are at fault for causing damage or personal injury in an accident. Your liability coverage provides legal defense coverage to defend your case. Liability insurance is quite affordable compared to insuring for physical damage coverage, so do not skimp.
Insurance agents can help
Many people just want to have an agent’s advice and doing so can bring peace of mind Good insurance agents can help determine the best coverages and give you someone to call. One of the best bonuses of comparing car insurance online is the fact that drivers can get cheap rate quotes but also keep your business local.
After filling out this simple form, your information gets sent to companies in Anchorage who will return price quotes to get your business. There is no reason to find an agent because prices are sent directly to your email. If you wish to quote rates from a specific insurance company, you would need to jump over to their website to submit a rate quote request.
Deciding on an insurer should depend on more than just the quoted price. Here are some questions to ask:
- Where would glass claims be handled in Anchorage?
- Do they feel the quoted coverages are adequate?
- Are they full-time agents?
- If your car is totaled, how to they determine the replacement cost?
- By raising physical damage deductibles, how much would you save?
- What insurance company do they write the most business with?
- Do they get paid more for recommending certain coverages?
If you want a local Anchorage insurance agent, it helps to know the two different types of agents and how they differ in how they quote coverages. Anchorage agents are classified as either independent or exclusive depending on the company they work for. Either one can insure your vehicles properly, but it’s worth mentioning the differences since it can affect the type of agent you choose.
Exclusive insurance agents can only provide one company’s prices and examples are Allstate, State Farm and Farmers Insurance. They generally cannot provide other company’s prices so always compare other rates. Exclusive insurance agents are well schooled in insurance sales which helps offset the inability to provide other markets.
Below are exclusive insurance agents in Anchorage who can help you get price quote information.
Independent Car Insurance Agencies
These agents can quote rates with many companies so as a result can place your coverage with many different companies and find the cheapest rate. To move your coverage to a new company, they can switch companies in-house and you can keep the same agent. If you are comparing rate quotes, you need to contact a couple of independent agencies so that you can do a thorough price comparison.
Below is a short list of independent insurance agencies in Anchorage who can help you get price quotes.
What is the best auto insurance company in Alaska?
Selecting the right insurance provider can be rather challenging considering how many different companies there are to choose from in Anchorage. The information shown next can help you select which car insurance providers you want to consider comparing rates with.
Top 10 Anchorage Car Insurance Companies by A.M. Best Rank
- USAA – A++
- State Farm – A++
- GEICO – A++
- Esurance – A+
- Allstate – A+
- Progressive – A+
- The Hartford – A+
- The General – A-
- AAA Insurance – A
- Liberty Mutual – A
Top 10 Anchorage Car Insurance Companies Ranked by Claims Service
- State Farm
- AAA Insurance
- Liberty Mutual
- The Hartford
- The General
- Farmers Insurance
One last note
We just covered some good ideas how you can lower your Lexus IS 200t insurance car insurance rates in Anchorage. The most important thing to understand is the more you quote Anchorage auto insurance, the more likely it is that you will get a better rate. Consumers may even find the best price on insurance is with a lesser-known regional company. Smaller companies may have significantly lower premium rates on certain market segments compared to the large companies like Progressive or GEICO.
When trying to cut insurance costs, it’s not a good idea to skimp on coverage in order to save money. In many instances, someone dropped collision coverage only to discover later they didn’t purchase enough coverage. Your focus should be to purchase plenty of coverage at an affordable rate and still be able to protect your assets.
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